Crown Capital Partners Acts as Agent for Concentra Bank in Senior Loan Facility
Relationship opens new growth opportunity and revenue stream for Crown
CALGARY, July 29, 2019 /CNW/ - Crown Capital Partners Inc. ("Crown" or the "Corporation") (TSX: CRWN), a capital partner to entrepreneurs and growth businesses, today announced it has entered an agreement with Concentra Bank ("Concentra") under which Crown will provide investment management services for Concentra's $20 million investment in a syndicated senior secured credit facility for a holding company controlled by Don Wall. As previously disclosed, Crown announced the repayment of its loan to Canadian Helicopters, of which Don Wall is the sole-owner and President and CEO.
"We are pleased to support Concentra on this investment, which leverages our knowledge of a pre-existing relationship and our team's deep experience in managing middle market credit," said Chris Johnson, President & CEO of Crown. "Based on our well-established presence in the Canadian market, we generate strong deal flow and, over time, this presents an opportunity to act in a similar role for senior debt transactions that do not fit the investment parameters of Crown Partners Fund."
Ryan Graham, Concentra's Chief Banking Officer, commented: "The Crown team has an excellent track record in managing private credit investments, and we look forward to working with them and benefitting from their portfolio management and origination capabilities focused on mid-market businesses."
Concentra is Canada's leading provider of wholesale banking and trust solutions to credit unions and Canadians. The company currently has over $9.7 billion in total assets and offers a wide range of financial solutions including specialized banking, consumer finance, treasury, and wealth management solutions to business owners, consumers, and credit unions nationwide.
About Crown Capital Partners (TSX:CRWN)
Founded in 2000, Crown is a leading specialty finance company that provides growth capital to a diversified group of successful mid-market companies that are seeking alternatives to banks and private equity funds. Crown provides customized solutions in the form of loans, royalties, and other structures with minimal or no ownership dilution. In addition to deploying capital as a principal investor, Crown develops, manages and co-invests in alternative investment funds, including Crown Partners Fund and Crown Capital Power Fund.
FORWARD-LOOKING STATEMENTS
This news release contains certain "forward looking statements" and certain "forward looking information" as defined under applicable Canadian and U.S. securities laws. Forward-looking statements can generally be identified by the use of forward-looking terminology such as "may", "will", "expect", "intend", "estimate", "anticipate", "believe", "continue", "plans" or similar terminology. Forward-looking statements are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Forward-looking statements are subject to various risks and uncertainties concerning the specific factors identified in the Crown's periodic filings with Canadian securities regulators. See Crown's most recent annual information form for a detailed discussion of the risk factors affecting Crown. In addition, Crown's dividend policy will be reviewed from time to time in the context of the Corporation's earnings, financial requirements for its operations, and other relevant factors and the declaration of a dividend will always be at the discretion of the board of directors of the Corporation. Crown undertakes no obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.
SOURCE Crown Capital Partners Inc.
For further information: Craig Armitage, Investor Relations, [email protected], (416) 347-8954
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